Video via Geopolitical Trends
One month ago we joked that should the Delaware judge force Musk to buy Twitter, then none other than the US government would step in and prevent the South African from gaining control over the blue-checkmark echo chamber of record, the one social media network which congressional testimony after congressional testimony has argued it can manipulate the outcome of elections.Biden Admin Weighs Blocking Twitter Deal On “National Security” Grounds… Just As Musk Wanted
H/T: Alex Christoforou
The U.S. Bureau of Labor Statistics (BLS) reported Friday morning that just 263,000 jobs were added in the month of September, down from 315,000 in August. The total of new jobs matched the previous low, in April of 2021, for monthly job creation over the past 20 months.Weak US jobs report not weak enough: Financial markets plunge
By Michael Hudson
The reaction to the sabotage of three of the four Nord Stream 1 and 2 pipelines in four places on Monday, September 26, has focused on speculations about who did it and whether NATO will make a serious attempt to discover the answer. Yet instead of panic, there has been a great sigh of diplomatic relief, even calm. Disabling these pipelines ends the uncertainty and worries on the part of US/NATO diplomats that nearly reached a crisis proportion the previous week, when large demonstrations took place in Germany calling for the sanctions to end and to commission Nord Stream 2 to resolve the energy shortage.The Euro Without German Industry
The latest inflation data published Tuesday shows that the working class confronts months of immense hardships as wages lose their value in the face of rising living costs. The ruling class’s attempt to make the working class pay for the crisis of capitalism is driving workers into struggle across the world, including in the United States, where teachers, nurses, and possibly railroad workers are launching powerful strikes.Surging cost of living in US drives class tensions to the breaking point
According to the Institute of Energy Research, the SPR is expected to shrink to a 40-year low by the end of October, with inventories then at 358 million barrels, compared to 621 million barrels a year ago.
The only thing that climbed as high as gas prices earlier this year was the disapproval of US President Joe Biden 😂Biden was wrongly blamed for rising gas prices. But he doesn’t deserve much credit for the drop
In order to force high-tech companies to decouple from the People’s Republic of China and reverse U.S. decline, U.S. imperialism needs a political/military crisis with ChinaAmidst Uproar Over Nancy Pelosi’s Visit to Taiwan, Media Ignores Aggressive U.S. Maritime Action in South China Seas
China’s state-run China Petrochemical Group, Sinopec, says it has discovered a massive oilfield in the Tarim Basin, containing 1.7 billion tons of oil reserves.
The discovery is the result of exploration in the Shunbei oil and gas field, said to be one of the deepest commercial fields in the world, in the country’s Xinjiang region.China Heralds Another Major Oil Discovery
I’m sure Halliburton would love to get their hands on that oil! Oh wait, that was Iraq!
The latest US GDP figures for second quarter of 2022 renewed the debate about whether the US economy was in a recession or not. Real GDP contracted in the second quarter of this year by a 0.9% annualised rate (or by 0.2% quarter over quarter). That meant the US economy had contracted for two successive quarters, and so ‘technically’ (by that definition) was in a recession. Real GDP is now up only 1.6% from Q2 2021. And business investment is slowing, up only 3.5% from this time last year, the slowest rate since the end of the COVID slump in 2020.Calling a recession and blaming it on interest rates